Sequans Capitalization and 5G Taurus Launch

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands of US$) ASSETS Non-current assets Property, plant and equipment Intangible assets. Deposits and other receivables Other non-current financial assets Total non-current assets Current assets Inventories Trade receivables Contract assets Prepaid expenses Other receivables Research tax credit receivable Short-term deposits Cash and cash equivalents Total current assets Total assets At March 31, 2023 At Dec 31, 2022 $ 7,744. 51,473 795 343 60,355 $ 8,489 48,705 783 337 58,314 8,552 9,387 3,645 8,494 1,959 176 1,907 1,399 5,093 5,799 5,855 4,515 5,000 5,344 5,671 32,355 40,441 $ 92,710 $ 98,755 EQUITY AND LIABILITIES Equity Issued capital, euro 0.01 nominal value, 194,258,298 shares authorized, issued and outstanding at March 31, 2023 (193,426,478 shares at December 31, 2022 and euro 0.02 nominal value) $ Share premium Other capital reserves 2,315 2,409 64,651 $ 2,306 2,418 62,870 Accumulated deficit (70,139) (65,099) Other components of equity (498) (391) Total equity (1,262) 2,104 Non-current liabilities Government grant advances, loans and other liabilities 5,633 6,235 Convertible debt 45,472 43,455 Convertible debt embedded derivative 901 3,203 Lease liabilities 2,109 2,278 Trade payables Provisions Deferred tax liabilities Contract liabilities Total non-current liabilities Current liabilities Trade payables 1,067 1,788 2,176 2,196 266 258 404 404 58,028 59,817 11,626 9,342 Interest-bearing receivables financing Lease liabilities Government grant advances and loans Contract liabilities Other current liabilities and provisions 6,528 7,723 1,312 1,291 3,947 4,159 3,211 5,774 9,320 8,545 35,944 36,834 S 92,710 $ 98,755 O2023 Sequans Communications 23 SEQUANS Total current liabilities Total equity and liabilities

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